Posted by admin on April 22, 2016
With the birth of many trading platforms, binary traders are having a field day choosing from which among them can offer the best features and give the best payouts. It is very easy to be lured by the flashing banners, inviting advertisements and enticing promises of hefty returns that traders need to be vigilant on selecting which of the bunch will really have their work cut out for them.
The binary options industry is experiencing untold growth that has left brokers reeling from the sheer number of traders wanting to take part in profitable investments. Many brokers have come up with ways to attract them, from the lucrative bonuses and promotions given to new account holders, to unlimited access to a demo account for newbie traders.
For the most part, the advantages of using a binary options demo account greatly outweigh any known disadvantage. For one, demo accounts allow traders to test the trading platform, it is a way to familiarize themselves with the site features. Most platforms now offer demo accounts for free, beginners are in no way obligated to make a deposit just to figure out how a platform works.
Secondly, a demo accounts is a great tool to learn the ins and outs of binary options trading. It is where mistakes can be made, at no cost. And without risking real money. The best thing of it all is that trades are simulated, as if trading in a real-live setting, There could not be any other place to better learn how to trade binary options than thru the use of a demo account.
Demo Trading Account vs. Broker Demo at a Glance:
Be careful when you see the word ‘demo’. You can check if the site does offer demo accounts when you click on the link. If it brings you to a video tutorial instead, then look for another broker. It’s as simple as that. You can search for a list of trusted binary options brokers at yourbinary.com.
Using Google Trends to compare the interest of traders with demo trading accounts versus broker demos, we can see from the chart that a lot of the interest for demo trading accounts (blue) has been in existence from the previous years. Of course, this may be attributed to the availability of resources in the Internet as online trading started flourishing since then.
However, we can also see that the enthusiasm shown for demo accounts leave broker demos (red) by a mile. Does this mean the cybercitizens are just not that interested with what video tutorials can offer? Well, that remains to be seen.
To loosely interpret what can be inferred from the chart, it seems that attention given to broker demos seem to have risen in recent years. This is good progress as this reflects the expressed interest in broker demonstrations, which means that people are watching and are listening to what they want to say, perhaps about their platform or about trading in general.
The chart also shows a fluctuating interest on broker demos that hit all-time highs at one point, and then plunging suddenly. However, with demo trading account, interest is increasing. The periods when interest plummeted were during the tumultuous years that the financial markets were suffering a recession. And the period that there seems to be increased interest were those times that people are more focused on how they can stay afloat financially when the markets were starting to recover. They do this either by watching and reading materials about demonstrations on trading, or possibly thru practice trading.
As of late, the interest on demo trading account is more sustained. In fact, the preference for demo accounts has already reached breakout levels. The term “breakout” in Rising (under Related Searches) was used in a context explained by Google Trends as “When you see Breakout listed instead of an actual percentage, it means that the search term has experienced a change in growth greater than 5000%.”
It is only recently that the binary options industry is experiencing growth in exponential proportions and along with it an increasing need to create a demo account. This goes to show that they are necessary tools that will give you more chances at gaining more profits.
So, the next time you decide to trade immediately, stop and think about the benefits of a demo account before you start. You might think that it may be a total waste of time; however, no matter how many mistakes you make in a demo account you don’t have to pay for them. Plus you get to rectify your mistakes and not repeat them in real trading situations.